First Street Center project completed

First Street Center MDG Downtown Partners announced the completion of construction on First Street Center. Located in the heart of Historical Downtown Fort Myers at the corner of Lee and First Streets, the building has been professionally renovated by Heatherwood Construction Company of Bonita Springs. The building has both retail and office uses.

The 33,000 square foot building features 15 units ranging in size from 1,000 to 7,000 square feet and starting at $210 to $260 per square foot for purchase. The units can also be leased for $16 per square foot, triple net. Marketing of First Street Center is being handled by Coni Dean of Colonial Square Realty, Inc., which has had vast experience in marketing office properties.

Tenants signed as of this date are T3 Communications, Inc. as well as Donovan Court Reporting.

Having had much success with the office condo concept, the members of MDG Downtown Partners have developed over 400,000 square feet of commercial condominiums.

"We recognize that ownership is one of the many ultimate goals for the business owner," said MDG capital president Bill Klohn. "In addition to creating equity in commercial space over the long run, the business owner will realize immediate tax and cash flow benefits versus paying rent to a landlord. But if they choose to just rent for a few years, we will gladly enter into a lease with option to purchase."

MDG Capital, one of the major partners in First Street Center, has offices in Maryland, West Virginia, and Florida and is experienced in planning, financing, developing, constructing and marketing commercial and residential properties in several states. Locally, MDG Capital is developing Promenade at The Forum, a 402-unit community in Fort Myers, and Arrowhead Reserve, a 1,245-unit community in Immokalee. MDG Capital recently completed two Class-A office properties: Orion Bank Center and The TIB Bank Center in Naples.